Bitcoin Pass $109K as Macro Level Dey High Amid Traders Wey Dey Cautiouse
Bitcoin bounce pass $109,000 afta e hol’ strong support close to $105,200, close for within 2% of e all-time high. Big macro drivers dem include 2.7% year-on-year rise for Eurozone M2 money supply and 33,000 contraction for US private payrolls, which dey beef up demand for risk assets. But pros dey show cautious vibes: the one-month futures premium remain under 5% bullish level at 4.2%, and options delta skew na 0%, meaning say call and put positions balance. Spot Bitcoin ETFs experience net outflows of $342 million as investors collect profits amid trade tensions and US-Japan tariff threats. For China, Tether (USDT) dey trade at 1% discount to yuan, the biggest since mid-May, showing weak stablecoin demand. These mixed signals — strong macro support but lukewarm derivative signals and ETF outflows — suggest traders fit wait for clear catalysts before dem commit to sustained breakout.
Neutral
Bitcoin rally wey pass $109,000 dey supported by strong macroeconomic trends like di rise for Eurozone M2 and US job cuts, but di low futures premiums, balanced options skew, and heavy spot ETF outflows dey show say professional traders dey cautious. For short term, dis mix of derivatives and fund flow signals fit limit more upside as traders dey wait for clear catalyst dem. Still, di strong macro backdrop and resistance testing near all-time highs mean say medium-to-long term bullish potential dey if macro and geopolitical risks reduce.